Hello! I just need the answer to part B because this is my last attempt! The answer I got was 870.32 but the system said it was wrong and I'm not sure why. Please post all the steps as to how you get the correct answer.

%) Problem 6-4 (algorithmic) Question Help * Sydney to Phoenix. Terry Lamoreaux has homes in both Sydney, Australia and Phoenix, Arizona. He travels between the two cities at least twice a year. Because of his frequent trips he wants to buy some new, high quality luggage. He's done his research and has decided to go with a Briggs and Riley brand three-picce luggage set. There are retails stores in both Phoenix and Sydney. Terry was a finance major and wants to use purchasing power parity to determine if he is paying the same price no matter where he makes his purchase a. If the price of the 3-piece luggage set in Phoenix is S849 and the price of the same 3-piece set in Sydney is A$939, using purchasing power parity, is the price of the luggage truly equal if the spot rate is A$1.1060/$? b. If the price of the luggage remains the same in Phoenix one year from now, determine what the price of the luggage should be in Sydney in one-year's time if PPP holds true The US Inflation rate is 1.13% and the Australian inflation rate is 3 16% A$1 1060S (Select the best choice below) 0 A. No the price of the luggage is not equal if the spot rate is A$1 1060/S O B. There is not enough information to determine if the price of the luggage is oqual. Yes, the price of the luggage is truly equal if the spot rate is A$1.1060/S b. If the pr ce of the luggage remains te same in Phoenix one year om now, determine what he pnce of he the Australian inflation rate is 3.16% gage sould be in Sydne non ears me fPPP holds true. The US n ation te s 11% and the price of the lugpage remains the same in Phoenix one year trom now, the price of the luggage in Sydney in one-year's tme i PPP holds tue is A(Round to the nearest cent)